By Bisi Bamishe
The new Managing Director of Nigeria Re, Gbenga Falekulo has assured that his team is prepared to take the reinsurance company to the next level.
The recent reorganisation of the board and executive management of the company which brought in Falekulo as the managing director is to ensure that it continue in the quest for transparent and accountable management of insurance in the country.
Falekulo with over 25 years of experience spanning across the sector said he brought his wealth of experience and professionalism to the fore.
According to him, Nigeria Re is taking a new dimension in the insurance industry though he did not disclose the strategic plans he and his team have put together, but promised that a new era is here for the reinsurance company
Falekulo has BSc in Insurance, Masters in Business Admin and is a member of the Chartered Insurance Institute of London. He once worked in NICON Insurance, Great Nigeria and Continental Re, where he left as an Exexutive director in 2014 and went into his private business until this appointment.
He is well travelled and has attended many courses within and outside Nigeria.
The new board and management of Nigeria Reinsurance Corporation has Mr Mela Audu Nunghe SAN as Chairman, Gbenga Falekulo Managing Director/Chief Executive Officer and Mr Olusegun Ilori, Executive Director, Finance & Admin. Mr Alexander Ayoola Okoh, the Director-General of Bureau for Public Enterprises (BPE) comes in as Non-Executive Director while Mrs Yvonne Isichei MIoD, FCIB joins as Non-Executive Director (Independent).
Nigeria Reinsurance Corporation was established under Nigeria Reinsurance Corporation Act No. 49 of 1977. It commenced operations on January 1st, 1978, as Nigeria’s flag reinsurer, wholly owned by the Government of the Federal Republic of Nigeria. In 2002, the Corporation was transformed from being a Federal Government wholly owned Corporation to a privatised company with the government retaining some shares. The Corporation, which has over 40 years of operations is in the business of assuming risks, providing reinsurance services and risk management solutions to its clients.